Well it's true. That is a statement from my friends who are successful businessmen. When I asked them why not invest in Brunei? They all laugh. They prefer to invest in Laos or Vietnam rather than Brunei. Brunei is not a business friendly country.

Unless Brunei is the only country left in the world then may be they will. There are too much obstacles and the main one is the so called 'local partnership' but must be with some VIP Ali Baba who will contribute nothing to their business. There are also other ridiculous demands by these greedy local partners once the business gets going.

They say that "when we invest we want to maximize profit but not making silent partner rich. And we are willing to form a partnership only with real local businessmen who can contribute globally".

There are more though. Anyway they are all millionaires (in US$) who have several factories in various countries in the region but not in Brunei. A few have gone into real estates. But they said "At the moment, in fact for the next 10 or 20 years, Brunei only has potentials like those countries in Africa who by that time might even surpass Brunei in attracting foreign investors".

Comments (11)

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Rather Open Business in The Philipines!!!
written by AskToGet , November 01, 2009

Yup its true.Look at kedai kommunis in gdg. Every cd shop are not allowed to sell pirated cds. So how come kdai kommunis is still ignoring the "rules"...hmmmm, i wonder......

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exactly
written by Kero , November 01, 2009

Indeed! I like real estate too and I check all over the globe for potential investment. When I read this: http://www.globalpropertyguide.com/Asia/Brunei , do you think I still be willing to invest in Brunei?

Brunei is virtually dead. If I'm a foreign investor I'll probably move a bit to Miri instead of Brunei, the economy is more free and vibrant there not to mention I can connect with the rest of resource-rich Sarawak. Even Cambodia is better, I can hire them dirt cheap in factory and export the goods to regional markets. Indonesia, Philippines, Vietnam, well just in case you didn't know they are the 4th, 12th, 13th most populous nations in the world. Brunei is at the bottom of any investors list.

I have a feeling our grandchildren won't live a better life than us.

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...
written by agree , November 02, 2009

Looking at the current news trend, there is little hope in our future.

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WHY INVEST AND DO BUSINESS IN BRUNEI????????
written by pemerhati , November 02, 2009

Assalam and salam sejahtera to all readers........

I do agreed to all comments. You know why?? I've been in Vietnam for three (3) years and doin my own business there and alhamdulillahit's really successful. Not only me ,my business friends from Singapore and Malaysia also doing well.
Even I am a Bruneian....I don't like to do business in Brunei since the rules is not fixed. Meaning sometimes it can be done( for VVip's) and sometimes can't(like us).Esp if the business related in Investment BIA and MOF involved.......Huh...what a shame ,look at yourself is Brunei success like others. Other countries can build up their young millionaires/billionaires like mushrooms. How about Brunei??? Tepuk dada tanya selera.Meaning selagi Undang2 nda tetap and barukan buka bisnis melayu Jabatan yang nda kena mengena pun ikut2tan kan menyuruh menutup....macammana kan melayu maju.
So lastly ,to all Bruneians....if you think that you can afford to do business overseas do it before it's too late.

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Dont talk cock, Low-rated comment [Show]

In other words... Bullys...
written by EMD , November 03, 2009

I quote... "Unless Brunei is the only country left in the world then may be they will. There are too much obstacles and the main one is the so called 'local partnership' but must be with some VIP Ali Baba who will contribute nothing to their business. There are also other ridiculous demands by these greedy local partners once the business gets going."

My take: A subtle way of getting "protection money".

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...
written by bakar , November 03, 2009

well..well..well....don't look eleswhere, just look at our local economy in Brunei. Why do you think so many Indian retilers in Brunei? They rules all the retails business from muara road to kuala belait rd., From bandar to tutong road, in all the roads, including lamunin, melaut, bukit panggal, batang mitus, tanjong maya,tungillian, lumut, tembururong, labi and etc..etc..etc why its mushrooming? business good or bad? Bytheway, why is it so easy for them to do business and get employment quota???

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so true
written by dude , November 03, 2009

ya .. look at MIri, there are more decent shop there man ... obvious example is starbuck and secret recipi : )

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business
written by enterpreneur , November 04, 2009

The poster pemerhati has given a very good advice. Only those who went out to do business abroad will understand the comparison. That is the realistic scenario in Brunei. Also its good to be posted by a local else some may again bring up race issues. I have partnered with others in business and have quite some success in Uruguay, South America. Like what he said, Brunei is pretty hopeless now and in future, unless you know the VVIPs. I wish him good luck in his business.

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written by seira , November 05, 2009

To Kero: You are really outdated you know? Haven't you heard of the new strata title legislation that was passed sometime in July? How can you believe in an outdated news made by some foreign site?

Do you people know why there are not many business activity in Brunei? It is because you people complain way too much about this and that. It doesn't help that most Bruneian prefer to shop outside the country due to cheaper price and more choices, thus less profit for Brunei's business. And of course, don't forget bribery. If you people don't change these type of behaviours, then there is no future for doing business in Brunei.

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Doing business in Brunei
written by Naga , November 05, 2009

Very interesting post here.I really like to do business outside Brunei but my sources are limited. Anyway, who are these VIPs, VVIPs (I mean to which level). What can they do by being partners. What kind of reaction do the authorities have when they see the names of the partners and WHY ? If it is good to have these VIPs as partners, then lets go for it since they make the business going.This could be the only way if we cant adjust the "system".

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